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Consolidated financial statement of the Eurosystem as at 20 June 2014

24 June 2014

Items not related to monetary policy operations

In the week ending 20 June 2014, gold and gold receivables (asset item 1) increased by EUR 1 million owing to the purchase of gold coin.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.6 billion to EUR 209.9 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

US dollar liquidity operations

Value date Type of transaction Maturing amount New amount
19 June 2014 84-day US dollar liquidity-providing reverse transaction USD 50 million -

The liquidity-providing transactions were conducted by the Eurosystem in connection with the standing swap arrangement that the European Central Bank has with the Federal Reserve System.

The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 2 billion to EUR 359.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.6 billion to EUR 955.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 40.9 billion to EUR 130.1 billion.

Items related to monetary policy operations

The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) increased by EUR 56.8 billion to EUR 538.5 billion. On Wednesday, 18 June 2014, a main refinancing operation of EUR 136.8 billion matured and a new one of EUR 97.9 billion, with a maturity of one week, was settled. On the same day, fixed-term deposits in an amount of EUR 108.6 billion matured.

During the week, EUR 3.7 billion of longer-term refinancing operations was repaid before maturity.

Recourse to the marginal lending facility (asset item 5.5) remained virtually nil, while recourse to the deposit facility (liability item 2.2) was EUR 26.5 billion (compared with EUR 17.2 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) decreased by EUR 2.6 billion to EUR 209.9 billion. This decrease was due to the redemption of securities acquired under the first covered bond purchase programme and the Securities Markets Programme. Therefore, in the week ending 20 June 2014 the value of accumulated purchases under the Securities Markets Programme amounted to EUR 160.6 billion, while the values of the portfolios held under the first and second covered bond purchase programmes totalled EUR 35.1 billion and EUR 14.2 billion respectively. All three portfolios are accounted for on a held-to-maturity basis.

Current accounts of euro area credit institutions

As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) increased by EUR 11.4 billion to EUR 211.2 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 326,479 1
2 Claims on non-euro area residents denominated in foreign currency 244,415 −3,069
2.1 Receivables from the IMF 80,950 −602
2.2 Balances with banks and security investments, external loans and other external assets 163,464 −2,467
3 Claims on euro area residents denominated in foreign currency 25,542 2,143
4 Claims on non-euro area residents denominated in euro 18,404 −432
4.1 Balances with banks, security investments and loans 18,404 −432
4.2 Claims arising from the credit facility under ERM II 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 565,019 −42,598
5.1 Main refinancing operations 97,887 −38,879
5.2 Longer-term refinancing operations 467,126 −3,714
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 5 −5
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 62,898 −916
7 Securities of euro area residents denominated in euro 569,373 −593
7.1 Securities held for monetary policy purposes 209,920 −2,623
7.2 Other securities 359,453 2,030
8 General government debt denominated in euro 27,267 0
9 Other assets 240,579 1,160
Total assets 2,079,975 −44,306
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 955,931 −619
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 237,777 −88,037
2.1 Current accounts (covering the minimum reserve system) 211,226 11,395
2.2 Deposit facility 26,544 9,369
2.3 Fixed-term deposits 0 −108,650
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 7 −151
3 Other liabilities to euro area credit institutions denominated in euro 8,014 5,352
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 168,296 44,151
5.1 General government 130,087 40,873
5.2 Other liabilities 38,209 3,278
6 Liabilities to non-euro area residents denominated in euro 61,649 −5,456
7 Liabilities to euro area residents denominated in foreign currency 1,057 86
8 Liabilities to non-euro area residents denominated in foreign currency 6,192 −396
8.1 Deposits, balances and other liabilities 6,192 −396
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 52,830 0
10 Other liabilities 204,012 −1,290
11 Revaluation accounts 288,913 0
12 Capital and reserves 95,305 1,902
Total liabilities 2,079,975 −44,306
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